Today’s Chicago Tribune has a good article by Lew Sichelman on the home buying/selling process from signed sales contract to the closing. “Buying a house is a risk-filled road to final sale” is a good overview of all the steps that must be completed to actually close on a home sale. Since real estate laws and practices vary significantly by state and the article is written for a national audience, there are a few inaccuracies regarding home sales in Illinois. For example, termite inspections are not required. I would have listed getting a survey on the seller’s list of required steps, not the buyer’s list.
I also would add to the seller’s list of steps, removing all personal property from the home prior to the buyer’s walkthrough. For homeowners with a lot of possessions, this can be a huge task. Many sales contracts require that a property be left in “broom clean” condition. It isn’t acceptable to leave unwanted items.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
